Richard Lowenthal Sells 50,000 Shares of ARS Pharmaceuticals (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Richard Lowenthal sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $14.49, for a total transaction of $724,500.00. Following the completion of the sale, the chief executive officer directly owned 1,196,494 shares in the company, valued at approximately $17,337,198.06. The trade was a 4.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

ARS Pharmaceuticals Trading Down 9.2%

Shares of ARS Pharmaceuticals stock opened at $13.50 on Friday. The stock has a market capitalization of $1.33 billion, a P/E ratio of -27.55 and a beta of 0.90. The company has a quick ratio of 5.98, a current ratio of 6.17 and a debt-to-equity ratio of 0.37. The company has a 50-day simple moving average of $16.80 and a 200 day simple moving average of $14.36. ARS Pharmaceuticals, Inc. has a 12-month low of $10.00 and a 12-month high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.05). The firm had revenue of $15.72 million for the quarter, compared to analyst estimates of $12.92 million. ARS Pharmaceuticals had a negative return on equity of 21.85% and a negative net margin of 42.74%. Research analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $31.00.

Institutional Trading of ARS Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of SPRY. LPL Financial LLC increased its holdings in shares of ARS Pharmaceuticals by 11.4% in the fourth quarter. LPL Financial LLC now owns 21,408 shares of the company’s stock valued at $226,000 after purchasing an additional 2,190 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of ARS Pharmaceuticals by 73.6% in the 4th quarter. JPMorgan Chase & Co. now owns 31,112 shares of the company’s stock valued at $328,000 after buying an additional 13,190 shares during the period. Wells Fargo & Company MN increased its stake in shares of ARS Pharmaceuticals by 47.1% in the 4th quarter. Wells Fargo & Company MN now owns 41,701 shares of the company’s stock valued at $440,000 after buying an additional 13,361 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of ARS Pharmaceuticals in the 4th quarter valued at $6,576,000. Finally, Barclays PLC increased its stake in shares of ARS Pharmaceuticals by 41.7% in the 4th quarter. Barclays PLC now owns 158,180 shares of the company’s stock valued at $1,669,000 after buying an additional 46,514 shares during the period. Institutional investors and hedge funds own 68.16% of the company’s stock.

About ARS Pharmaceuticals

ARS Pharmaceuticals, Inc, a biopharmaceutical company, develops treatments for severe allergic reactions. The company is developing neffy, a needle-free and low-dose intranasal epinephrine nasal spray for the emergency treatment of Type I allergic reactions, including anaphylaxis. It serves healthcare professionals, patients, and caregivers.